FASB posted a staff Q&A document to its website Friday that is designed to clarify pandemic-related questions about lease accounting.
As a result of economic disruptions caused by the pandemic, many lessors will provide lease concessions to tenants. The Q&A states that for concessions related to the effects of the coronavirus pandemic, an entity will not have to analyze each contract to determine whether enforceable rights and obligations for concessions exist in the contract.
In case you are keeping track:
Helena College moving programs under Business, Accounting fully online | Regional | khq.com
HELENA- Beginning in Fall 2020, Helena College is moving programs under Business and Accounting fully online.
These will be the first programs the college has moved to be fully online according to a release from Helena College.
There will be optional scheduled class times where students can virtually meet with their instructor and classmates.
"Our enhanced online classes are best of both worlds," Robyn Kiesling, the Division Chair for General Education & Transfer, said in the release. "We are offering students the flexibility to complete their courses online while also providing an opportunity to connect and build friendships with their peers. It is a format that benefits everyone, recent high school graduates and working adults going back to school."
California AG Slams Charity Accounting Proposal
California Attorney General Xavier Becerra slammed a U.S. accounting rulemaker proposal as not going far enough to stop shady charities from inflating their balance sheets and ripping off donors.
The proposal from the Financial Accounting Standards Board fails to address regulator concerns about charities overvaluing donations of pricey pharmaceuticals to skew their financial statements and make them look more robust than they really are, Becerra wrote to the board on April 10.
AICPA issues audit and accounting guidance FAQs on COVID-19 - Journal of Accountancy
A new AICPA report provides nonauthoritative guidance addressing frequently asked audit and accounting questions related to the coronavirus pandemic.
Issues covered by the report fall under three main categories and cover the following topics:
* * *
This report will be updated as additional questions are collected through various AICPA sources and channels.
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New Chief Financial Officer is accounting for integrity | PostIndependent.com
Change has been a recent constant at the Garfield School District Re-2 — and that was before the COVID-19 pandemic hit the county just over a month ago.
New interim Chief Financial Officer David Trautenberg hopes to bring back integrity to the financial numbers for the district before the next school year begins.
During a lengthy audit for the 2018-19 fiscal year district officials were made aware of a nearly $4 million surplus in the district's fund balance in January.
Bloomberg - Are you a robot?
The Past, Present, and Future of Forensic Accounting - The CPA Journal
This article is a broad-strokes review of what forensic accountants do, how the profession has developed, and where it appears to be going. It describes the role of the forensic accountant in the abstract, as an inclusive profession that at its core bridges that gap between perception and reality. The demographic makeup and career paths of forensic accountants are touched upon, followed by broad predictions for the coming decade.
The world of forensic accounting has been developing for the past 70 years. Some credit the beginning of the understanding of fraud as a subject of scientific study to the 1934 work of Donald Cressey and Edwin Southland, who coauthored Principles of Criminology.
Accounting Firm RSM Names Lukka Preferred Provider for Crypto Tax Software Solutions
Lukka , a blockchain software and data services company, announced on Friday it has been selected by RSM, a provider of audit, tax and accounting services focused on the middle market, to provide crypto tax software solutions to the firm's tax clients. Through the partnership, Lukka will supply RSM's tax practitioners with its LukkaTax for Professionals and Lukka Crypto Office products to support the tax preparation and compliance needs of RSM's individual and enterprise clients.
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